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The WSE Management Board informs that on 19 June 2008 it addressed banks and brokerage houses - shareholders of MTS-CeTO - with a proposal to buy or to sell shares of MTS-CeTO in order to determine the basic conditions for possible development of a market of specific financial instruments by the company MTS-CeTO.
The proposal included a proposal to buy shares from shareholders of MTS-CeTO with the intention to buy shares in a number enabling the determination and implementation of the company’s growth strategy. However, if the WSE received no proposal to sell or if received proposals indicated that the WSE would not reach a satisfactory stake in the share capital of MTS-CeTO, the WSE declared in the proposal to sell all held shares of MTS-CeTO if the shareholders were interested to buy them.
Pursuant to the expiration of the deadline for the submission of proposals, the WSE informs that no shareholder of MTS-CeTO expressed the intention to use the opportunity of buying MTS-CeTO shares from the WSE but many shareholders took action enabling the WSE to increase its investment in MTS-CeTO. Binding proposals to sell shares of MTS-CeTO to the WSE were submitted by shareholders whose total stake in the share capital is 36.32%. Combined with the WSE’s current stake of 31.15%, this represents a 67.47% stake in the company’s capital.
The WSE Management Board will now request the WSE Supervisory Board and subsequently the Financial Supervision Authority for relevant permissions to close the transaction.
Upon the receipt of the permissions, the WSE will publish guidelines of the growth strategy of the market currently operated by MTS-CeTO and growth in other directions strengthening the company’s market position. It is the intention of the WSE to determine and implement the strategy, in particular in co-operation with the existing key shareholder of MTS-CeTO, the company MTS SA.
